StanChart Kenya CEO Kariuki Ngari to exit in April

Stanchart

Stanchart CEO Kariuki Ngari addressing shareholders on March 14, 2023.

Photo credit: Wilfred Nyangaresi | Nation Media Group

Kariuki Ngari is set to exit his role as chief executive officer of Standard Chartered Bank Kenya on April 16.

The board of the lender has announced the impending exit, which will end Mr Ngari’s seven-year stint at the helm of the bank.

The lender has subsequently appointed Birju Sanghrajka to succeed him, subject to regulatory approvals.

Mr Sanghrajka is currently the Head of Corporate and Investment Banking Coverage for Kenya and has served as an executive director of the bank since 2021.

Mr Ngari has served as chief executive officer and managing director of Standard Chartered Bank Kenya since 2019.

The lender has credited Mr Ngari with overseeing its digital transition and growing its wealth management business.

“He has led the bank’s transformation, significantly accelerating the shift to digital with currently over 90 percent of transactions being done digitally across wealth and retail banking and corporate and investment banking,” Standard Chartered Bank Kenya said in a statement on Wednesday.

“Shareholders have benefitted from strong and resilient financial performance over the period.”

Separately, Standard Chartered Bank has appointed Nigerian banker Dalu Ajene as chief executive for its Africa operations, replacing Mr Ngari, who had taken on the continental role in addition to his position as chief executive of the lender’s Kenyan unit.

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